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Conferences Publications

Executive Remuneration. A Comparative Overview

Guido Ferrarini and Maria Cristina Ungureanu, “Executive Remuneration. A Comparative Overview”, in Jeffrey Gordon and Georg Ringe (eds), Oxford Handbook of Corporate Law and Governance 2018, 334-362

This chapter, co-authored with prof. Guido Ferrarini, examines current trends in the regulation and practice of executive remuneration, particularly emphasizing incentives like stock options and long-term pay. It first outlines the main problems of executive pay from the perspective of agency costs theory, banking theory, and corporate social responsibility. It then discusses the main policy issues relating to executive pay, from design problems and remuneration governance to disclosure of pay policies and amounts, and prudential regulation of pay structure at banks. It considers the regulation of pay governance and disclosure, with special reference to EU law, comparative law, and international practice. It explores the rise of shareholder engagement in listed companies across the Atlantic and the impact of say on pay rules on shareholder activism. Finally, it analyzes the implications of international principles and standards, the Dodd-Frank Act, and CRD IV for the regulation of the pay structure at banks and other financial institutions.

Chapter:

oxfordhb-9780198743682-e-21

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A smarter way to Corporate Governance

The new reality is moving beyond regulations and towards a forward-thinking approach, heavy on ethics and culture
My article “A smarter way to Corporate Governance” published in the Ethical Boardroom – 2017 Autumn edition.

A Smarter Way to Corporate Governance

Ethical Boardroom – 2017 Autumn edition

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Corporate Governance and Stewardship

La Presidenza NED ha chiesto a Cristina Ungureanu, responsabile della C.G. e della stewardship di Eurizon Capital SGR del Gruppo Banca Intesa Sanpaolo, di redigere un articolo su questo tema per “La Voce degli Indipendenti”.Corporate Governance and Stewardship

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The “G” in the ESG

Cristina Ungureanu, Head of Corporate Governance at Eurizon Capital SGR, recently gave us in an exclusive interview in which she shared her thoughts about the impact of 2016 and futures years in Corporate Governance, her views on companies adapting to ESG and Corporate Governance issues in order to attract more responsible investor and her participation at #ESGLDN.

The \”G\” in the ESG

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Publications

Publications

Executive Remuneration. A Comparative Overview (with Guido Ferrarini), European Corporate Governance Institute (ECGI) – Law Working Paper No. 268/2014; draft chapter for the Oxford Handbook of Corporate Law and Governance (J. Gordon and G. Ringe eds.), Oxford University Press, Forthcoming – download

The Corporate Governance of Sovereign Wealth Funds, The Harvard Law School Forum on Corporate Governance and Financial Regulation, August 2014 – download

Board Evaluation: Notes from Europe, The Corporate Board, September/October 2013, Vol. XXXIV, 2013link magazine

Board Evaluation – A Window into the Boardroom, The Harvard Law School Forum on Corporate Governance and Financial Regulation – download

An Overview of the Executive Remuneration Issue Across the Crisis (with Guido Ferrarini), in “Boards of Directors in European Companies – Reshaping and Harmonising their Organisation and Duties”, Birkmose, Neville, Sørensen (eds.), 2013

Executive Remuneration Post-Crisis: The Impact of Reforms on European Large Listed Firms (with Roberto Barontini, Stefano Bozzi, Guido Ferrarini), in “Boards and shareholders in European listed companies. Facts, context and post-crisis reforms”, Belcredi and Ferrarini (eds.), Cambridge University Press, 2013 – download

Le prassi di remunerazione nelle banche dopo la crisi finanziaria. Le riforme nell’Unione Europea e negli Stati Uniti (with Guido Ferrarini), in “Annuario di Diritto Comparato e di Studi Legislativi”, 2012 – link to volume

Bankers’ Pay after the 2008 Crisis: Regulatory Reforms in the US and the EU (with Guido Ferrarini), 6 Zeitschrift für Bankrecht und Bankwirtschaft (ZBB) /Journal of Banking Law and Banking (JBB), December 2011 – link to paper

Contrasting EU Executive Pay Rules Evoke Need for Legislation (with Guido Ferrarini), Bloomberg Brief, Financial Regulation, 01 August 2011 – download Bloomberg

Lost in Implementation: The Rise and Value of the FSB Principles for Sound Compensation Practices at Financial Institutions (with Guido Ferrarini), Revue Trimestrielle de Droit Financier, N. 1-2, May 2011, pp. 60-65 download

Commento D.Lgs n. 259/2010. Politica di remunerazione degli amministratori delle società quotate Rivista delle Società, Giuffré editore, aprile 2011 – download

Lost in Implementation: The Rise and Value of the FSB Principles for Sound Compensation Practices at Financial Institutions (with Guido Ferrarini), ICFR-Financial Times Research Prize 2010 – download

Economics, Politics and the International Principles for Sound Compensation Practices. A View from Europe (with Guido Ferrarini), 64 Vanderbilt Law Review (US), 2011, pp. 431-502 – download

Executive Pay at Ailing Banks and Beyond: a European Perspective, (with Guido Ferrarini), Capital Markets Law Journal, vol. 5(2), 2010, pp. 197-217 – link to paper

Executive Remuneration in Crisis: A Critical Assessment of Reforms in Europe (with Guido Ferrarini and Niamh Moloney), Journal of Corporate Law Studies, Vol. 10, 2010, pp. 73-118 – link to paper

Unique Features in the Governance of Bankers’ Compensation (with Guido Ferrarini), Liber Amicorum in Honour of Theo Raaijmakers, Tilburg University, November 2009 – download

Understanding Directors’ Pay in Europe:  A Comparative and Empirical Analysis (with Guido Ferrarini and Niamh Moloney), ECGI Law Working Paper 126/2009 – download

Corporate Governance in the European Union: The Implications for Financial and Narrative Reporting (with Dragomir Voicu), Journal of International Business and Economics, Vol. 9, N. 1, 2009 – download

Fixing Bankers’ Pay in Europe: Governance, Regulation and Disclosure (with Guido Ferrarini), Proceedings of the Symposium on Building the Financial System of the 21st Century. An Agenda for Europe and the US; Unimanagement Torino, 27-28 March 2009 (Program on International Financial Systems, Harvard Law School) – download

Northern Rock: Crisis of a Mortgage Lender (with Vasile Cocris), Economic Anals, Al.Cuza University of Iasi, Vol. LV, 2008, p. 154 – download

Effective Systemic Players in the Corporate Governance of Banks. A Closer Look at Supervision FSR Forum, 1, Financial Studies Association Rotterdam, Erasmus University Rotterdam, The Netherlands, 2008, p. 27 – download

Evolution of Accounting and Financial Sector Regulation Within the European Union Policy (with Dragomir Voicu), 12th World Congress of Accounting Historians, Istanbul, July, 2008 (Proceedings) – download

Importance of Effective Regulation and Supervision for Banks’ Corporate Governance: European Integration Context, Proceedings: A Review of Comparative Governance Systems, Conference organised by The Wharton Financial Institutions Center, Amsterdam Center for Research in International Finance (CIFRA), Erice, Sicily, 2008 – download

Why Are Banks Special? An Approach From the Corporate Governance Perspective (with Vasile Cocris), Economic Anals, Al.Cuza University of Iasi, Vol. LIV, 2007, p.55-66 – download

Banks: Regulation and Corporate Governance Framework – Journal of Corporate Ownership and Control, Vol. 5, Issue 2, VirtusInterpress, 2008, p. 449 – download

European Central Bank: Between Financial Stability and Monetary Policy [Banca Centrala Europeana: Intre Stabilitatea Financiara si Politica Monetara] (Romanian), Financial Week, Romania, September 2007 – view article

The Corporate Governance of Banks – Proceedings: Corporate Governance & Global Stock Markets Summer Conference, Eltville, Centre for Financial Studies (CFS) Frankfurt, Germany, 2007 – download

Corporate Governance – A Global Challenge – Intersections Electronic Journal, Vol.3, No.6, Ed. Matei-Teiu Botez Academic Society, Iasi, Romania, 2006 – download

The Complexity of the Global Environment – Intersections Electronic Journal, Vol.3, No.6, Ed. Matei-Teiu Botez Academic Society, Iasi, Romania, 2006 – download

AGM: Will investors be able to vote electronically? [AGA: Vor putea actionarii vota pe Internet?], (Romanian), Markmedia, Marketing and Communication Online Magazine, Romania, 2006 – view article

How do we communicate with investors? [Cum comunicam cu actionarii], (Romanian), Markmedia, Marketing and Communication Online Magazine, Romania, 2006 – view article

Communication between cultures and generations [Comunicare intre culturi si generatii], (Romanian), Markmedia, Marketing and Communication Online Magazine, Romania, 2003 – view article

Internal communication, a successful factor for a communication firm (not exclusively…) [Comunicarea interna, factor de succes intr-o companie de comunicare (si nu numai…)], (Romanian), Markmedia, Marketing and Communication Online Magazine, Romania, 2003 – view article

Social investment, and important business component [Investitia sociala, o componenta importanta a afacerii] (Romanian), Markmedia, Marketing and Communication Online Magazine, Romania, 2003 – view article

A unique business: investor communication [O afacere inedita: comunicarea cu actionarii] (Romanian), Markmedia, Marketing and Communication Online Magazine, Romania, 2003 – view article

Towards Defining the Homogeneity Degree using the Informational Entropy (with Nicolae Ungureanu and Marcel Traistaru), Proceedings, International Symposium: Achievements and Perspectives in Constructions in the Academic Environment, “Teiu Botez” Society Publishing House, Vol. II, 2001, Iasi, Romania

Considerations on the Quality Determined by Several Attributive Characteristics (with Nicolae Ungureanu and Marcel Traistaru), Proceedings, International Symposium: Achievements and Perspectives in Constructions in the Academic Environment, “Teiu Botez” Society Publishing House, Vol. I, 2001, Iasi, Romania

Categories
Conferences Publications

Contributing to the Oxford Handbook of Corporate Law and Governance

Panelist at several session and presenter of Executive Remuneration Conference: Oxford Handbook of Corporate Law and Governance Conference, Columbia Law School and IRA Millestein Center for Global Markets and Corporate Ownership, New York, 21-22 March, 2014